ATI Inc. (NYSE:ATI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of ATI Inc. (NYSE:ATI) have received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $74.00.

ATI has been the subject of several analyst reports. KeyCorp increased their target price on ATI from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Northcoast Research lowered ATI from a “neutral” rating to a “sell” rating in a research report on Friday, June 14th. Susquehanna began coverage on ATI in a research report on Thursday, September 5th. They set a “positive” rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on ATI from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st.

ATI Stock Performance

Shares of ATI opened at $66.91 on Tuesday. The firm has a market cap of $8.33 billion, a PE ratio of 26.87, a PEG ratio of 1.58 and a beta of 1.04. The stock’s fifty day moving average price is $63.31 and its two-hundred day moving average price is $58.35. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. ATI has a 1 year low of $35.03 and a 1 year high of $68.92.

ATI (NYSE:ATI) last released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that ATI will post 2.48 EPS for the current year.

ATI declared that its Board of Directors has initiated a stock repurchase program on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the transaction, the chairman now owns 511,443 shares of the company’s stock, valued at $31,510,003.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.71% of the stock is owned by insiders.

Institutional Trading of ATI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in ATI in the 2nd quarter worth $26,000. Benjamin F. Edwards & Company Inc. purchased a new position in ATI in the 1st quarter worth $51,000. EverSource Wealth Advisors LLC raised its stake in ATI by 294.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,353 shares of the basic materials company’s stock worth $69,000 after acquiring an additional 1,010 shares during the last quarter. Quest Partners LLC purchased a new position in ATI in the 2nd quarter worth $88,000. Finally, GAMMA Investing LLC raised its stake in ATI by 46.5% in the 1st quarter. GAMMA Investing LLC now owns 1,868 shares of the basic materials company’s stock worth $96,000 after acquiring an additional 593 shares during the last quarter.

About ATI

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.